Friday, January 23, 2009

Inflation spikes to 5.60 per cent

New Delhi: After declining for ten consecutive weeks, inflation rose to 5.6 per cent due to higher prices of edible items like fruits and vegetables, caused mainly due to the truckers' strike.

Inflation, measured by movements in wholesale prices, rose by 36 basis points for the week ended January 10 from 5.24 per cent in the previous week. It was 4.36 per cent a year ago.

The increase in the rate of price rise, noticed after a gap of more than two months, was due to an eight-day nation-wide strike by truck operators, which began on January 5.

Among the items that became expensive during the week were fruit and vegetables (9 per cent), wheat (2 per cent) and spices, milk, ragi and rice (1 per cent each). 

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